WSJ Quotes Scott Michel on $400 Million Bank Leumi Settlement

The Wall Street Journal spoke with Caplin & Drysdale's President, Scott D. Michel, concerning Bank Leumi Group – the first Israeli financial institution to admit that it helped U.S. taxpayers hide money abroad.  In an agreement with the U.S. government, the bank agreed to pay $400 million and to name more than 1,500 account holders.  The agreement indicates that there will be future and continued action in the U.S. government's campaign against offshore tax evaders.  For the complete article, please visit WSJ's website (subscription required).

Excerpt taken from the article.

"This agreement is a major development in the push against undeclared foreign accounts, and we're likely to see further expansion in 2015," says Scott Michel, a lawyer with Caplin & Drysdale in Washington who wasn't involved in the case.